Interest Coverage Ratio Defaults Sample Clauses

Interest Coverage Ratio Defaults. Pursuant to Section 7.20(a)(i) of the Loan Agreement, Borrower was required to maintain a minimum Interest Coverage Ratio as of the month ending September 30, 2003 (such month end herein, the “Interest Coverage Ratio Measurement Date”) of not less than 1.10 to 1.00. Borrower has advised Lender that as of the Interest Coverage Ratio Measurement Date, the Interest Coverage Ratio is less than the required ratio. Borrower’s failure to maintain the Interest Coverage Ratio covenant for the Interest
Sample 1
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Interest Coverage Ratio Defaults. Pursuant to Section 7.20(a)(i) of the Loan Agreement, Borrower was required to maintain a minimum Interest Coverage Ratio as of the months ending April 30, 2003 and May 31, 2003 (such month ends herein collectively, the “Interest Coverage Ratio Measurement Dates”) of not less than 1.10 to 1.00. Borrower has advised Lender that as of the Insurance Coverage Ratio Measurement Dates, the Interest Coverage Ratio is less than the required ratio. Borrower’s failure to maintain the Interest Coverage Ratio covenant for the Insurance Coverage Ratio Measurement Dates as required by the Loan Agreement, constitute Events of Default under Section 8.2 of the Loan Agreement (collectively, the “Existing Insurance Coverage Ratio Defaults”). Borrower has requested that Lender waive the Existing Insurance Coverage Ratio Defaults.
Sample 1

Related to Interest Coverage Ratio Defaults

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Debt Coverage Ratio Borrower shall not permit, as of the last day of any fiscal quarter of Borrower, the Debt Coverage Ratio to be less than 1.75 to 1.00.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Debt Service Coverage Ratio Borrower shall maintain as of the last day of any fiscal quarter a Debt Service Coverage Ratio of not less than 1.25 to 1.00 for the period of four consecutive fiscal quarters then ended on such day.

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 2.00 to 1 at any time.

  • Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.

  • Cash Flow Coverage Ratio Maintain a Cash Flow Coverage Ratio as of the last day of each of its fiscal quarters of not less than 3.25 to 1.

  • Minimum Debt Service Coverage Ratio Borrower shall not permit its Debt Service Coverage Ratio to be less than 1.25 to 1.00, determined as of the end of each fiscal quarter and fiscal year-end on a rolling four-quarter basis, beginning September 30, 2008, and continuing as of the end of each fiscal quarter and fiscal year thereafter, all as calculated by Bank in its reasonable discretion.

  • Collateral Coverage Ratio On the Closing Date (and after giving pro forma effect to any Borrowings on such date), the Collateral Coverage Ratio shall not be less than 2.0 to 1.0.

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